Ethereum

Flash

Resistance

Ethereum price is slowly moving higher above the $3,800 resistance zone. ETH could gain bullish momentum if it clears the $3,880 and $3,920 resistance levels. 
<ul> 
 <li>Ethereum is holding gains above the $3,800 level.</li> 
 <li>The price is trading above $3,840 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key bullish trend line forming with support near $3,840 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could start a fresh increase unless there is a close below the $3,800 support.</li> 
</ul> 
<h2 id="ethereum-price-eyes-more-upsides">Ethereum Price Eyes More Upsides</h2> 
Ethereum price <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-stuck-3840/" target="_blank" rel="noopener ">remained stable</a> above the $3,760 support zone. ETH formed a base and started another increase above the $3,800 level like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-green-70k/" target="_blank" rel="noopener ">Bitcoin</a>. 
There was a move above the $3,820 level and $3,840. The price tested the $3,880 resistance zone. A high was formed at $3,884 and the price is now consolidating gains in a range. It already tested the 23.6% Fib retracement level of the upward move from the $3,729 swing low to the $3,884 high. 
Ethereum is now trading above $3,800 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support near $3,840 on the hourly chart of ETH/USD. 
If there is another increase, ETH might face resistance near the $3,880 level. The first major resistance is near the $3,920 level. An upside break above the $3,920 resistance might send the price higher. The next key resistance sits at $4,000, above which the price might gain traction and rise toward the $4,080 level. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_a5af93.png?resize=1024%2C449"><img loading="lazy" decoding="async" class="wp-image-611671 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_a5af93.png?resize=1024%2C449" alt="Ethereum Price" width="1024" height="449" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_a5af93.png?resize=1024%2C449?w=1950 1950w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_a5af93.png?resize=1024%2C449?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_a5af93.png?resize=1024%2C449?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_a5af93.png?resize=1024%2C449?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_a5af93.png?resize=1024%2C449?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_a5af93.png?resize=1024%2C449?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_a5af93.png?resize=1024%2C449?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
If the bulls push Ether above the $4,080 level, the price might rise and test the $4,200 resistance. Any more gains could send Ether toward the $4,320 resistance zone. 
<h2 id="are-dips-supported-in-eth">Are Dips Supported In ETH?</h2> 
If Ethereum fails to clear the $3,880 resistance, it could start a downside correction. Initial support on the downside is near $3,840 and the trend line. 
The next major support is near the $3,800 zone and the 50% Fib retracement level of the upward move from the $3,729 swing low to the $3,884 high. A clear move below the $3,800 support might push the price toward $3,720. Any more losses might send the price toward the $3,650 level in the near term. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. 
Hourly RSI – The RSI for ETH/USD is now above the 50 zone. 
Major Support Level – $3,800 
Major Resistance Level – $3,880

Ethereum Price Indicators Flash Green: More Upsides Ahead?

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